Very few companies can boast of converting 6 out of every 10 euros that they enter into a clean profit. A miracle that has been repeated for several years by a technology company, which was not born in Silicon Valley but in Valencia.
This group specialized in providing electronic invoicing and electronic data interchange services once again grew double digits in both business and profits during its last financial year.
A new leap driven by the boom in digitization that the Covid 19 pandemic has brought about and that it has taken advantage of in all its markets. The Valencian group, which has subsidiaries in several European countries, the United States and South America, thus increased its consolidated business to 152.8 million euros in 2021, 15.6% more.
But the most spectacular thing in this upward trend is undoubtedly its strong gains. This authentic technological gold mine achieved a net result of 90.2 million euros, 25.4% more than the previous year as reflected in its annual accounts. In the last three years the company, which paradoxically is still largely unknown in Valencia itself, was able to generate a profit of 234 million euros.
His story
Edicom was created in 1995 by four telecommunications and computer engineers: the brothers Vicente and José Vilata, Ana Darder and María Dolores Casares, who continue to be its owners and those in charge. These entrepreneurs developed a standard application to perform electronic data interchange (the technology known as EDI) between companies. With the explosion of the Internet, Edicom gradually incorporated clients and opened its first subsidiary in 2000 in Mexico.
The Valencian company managed to survive the dotcom bubble at the beginning of the century, although like VAT. An electronic procedure that requires a technology such as that developed by the Valencian company, which until then was a matter of large companies. Some applications that have been expanded with the implementation and generalization of the cloud.
From Paterna to Wall Street
Driven by these regulatory changes and by the need for companies to be increasingly digital, Edicom set up its own subsidiaries in France and Italy in Europe.
With the advantage of the language it also spread in America. First to Colombia, Argentina, Brazil, and finally to the United States, where its headquarters are located on Wall Street itself. Last year it already exceeded 10 million euros of business in the United States. But its largest foreign market is still the one where its subsidiary is installed.
The Valencian company now has more than 17,000 clients spread over 70 countries. In order to assume its vertiginous growth in recent years, it has not stopped expanding its workforce, with nearly 650 employees, most of them at its headquarters in Paterna (Valencia).
And he considers that his growth escalation has not yet finished. In fact, it expects to maintain its highest growth rates in the coming years in Mexico, followed by the United States, Brazil and Colombia. In addition, Edicom closed e-invoicing and e-tax projects last year with companies in the Middle East and Saudi Arabia, an area in which it hopes to expand markets. The technology company also explains in his memory that it analyzes new business opportunities in emerging countries such as India, Taiwan, Egypt, Vietnam, Bolivia or Paraguay, linked to the creation of new electronic procedures for companies.
Along these lines, the Valencian group has just created its latest subsidiary, in Morocco. A first step to start creating your own network also in Africa.
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